Commerzbank hires Shottes to US credit trading team.

Financial News, June, 2003

Byline: Vivek Ahuja

Commerzbank has hired Paul Shottes as it strives to build its New York credit derivatives team.Shottes joins the German bank's US office as a credit trader, focusing on single-name credit trading in the chemicals, paper, defence, energy and real estate investment trust sectors.

He joins from Wachovia Bank, where he was a credit default swap trader in the credit products group. In his new role, he will report to Carmine Urciuoli, who has been head of US credit trading and investment-grade syndication since joining Commerzbank in June 1999.

Omar Bayoumi, the former joint head of capital markets and advisory and head of global mergers and acquisitions who now runs Commerzbank's business in the Americas, said: "Paul's...

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